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Haider Jamal

Sep 20, 2023

Ethereum Futures ETF Filed For By Grayscale

Grayscale Investments, a reputable and well established digital asset management firm, has submitted an application to the Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) designed to track Ethereum (ETH) futures.

This particular ETF has been officially registered under the Securities Act of 1933, which oversees commodities and spot Bitcoin (BTC) ETFs. Notably, Grayscale had previously sought approval for a distinct ETH futures ETF under the Investment Company Act of 1940.

In any case, this development holds significance as the SEC has already given the green light to Bitcoin futures ETFs that operate under both sets of regulations, hinting at a more permissive stance towards Bitcoin futures in general.

The recent filing by Grayscale comes after a court ruling which determined that the SEC refusing to grant the company its request to transform its Bitcoin trust into a spot Bitcoin ETF was indeed unwarranted. The court reasoned that the proposed BTC ETF closely resembled approved futures-based BTC ETFs.

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